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Cable Update (GBPUSD)

  • #248,481
  • Aug 25, 2010 1:33am Aug 25, 2010 1:33am
Morning all.

I got rather a simple view again of the action here and the play I will be looking for. As Malcolm and others have said here in previous pages, I am going to wait for it to materialise and not going to jump the gun anticipating a break.
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  • #248,482
  • Aug 25, 2010 1:36am Aug 25, 2010 1:36am
Quoting cloggie
Morning all. I got rather a simple view again of the action here and the play I will be looking for. As Malcolm and others have said here in previous pages, I am going to wait for it to materialise and not going to jump the gun anticipating a break.

waffle around in 30 pip range all london until us news , then 140 pip move in under 5 min ... then sideways movement range of 30 pip for next 14 hours ?

lol
Blogging daily now at www.volume.zone
  • #248,483
  • Aug 25, 2010 1:37am Aug 25, 2010 1:37am
Here was his indicator builder. He used exponential
and daily charts in his stock market trading.

Dr. D.


GUPPY MULTIPLE MOVING AVERAGES
These are two groups of exponential moving averages.

The short term group is a 3, 5, 8, 10, 12 and 15 day moving averages.
This is a proxy for the behaviour of short term traders and speculators in the market.

The long term group is made up of 30, 35, 40, 45, 50 and 60 day moving averages.
This is a proxy for the long term investors in the market.

The relationship within each of these groups tells us when there is agreement on value -
when they are close together - and when there is disagreement on value - when they are well spaced apart.

The relationship between the two groups tells the trader about the strength of the market action.

A change in price direction that is well supported by both short and long term investors signals a strong trading opportunity.

The crossover of the two groups of moving averages is not as important as the relationship between them.

When both groups compress at the same time it alerts the trader to increased price volatility and the potential for good trading opportunities.
  • #248,484
  • Aug 25, 2010 1:40am Aug 25, 2010 1:40am
Quoting malcolmb14
waffle around in 30 pip range all london until us news , then 140 pip move in under 5 min ... then sideways movement range of 30 pip for next 14 hours ?

lol

You are probably not far out, just love all the posters here calling shorts and longs when price has not broken either the TL to the upside or the low here. Great for a few scalps here and there for a few pips, not my style though.
  • #248,485
  • Aug 25, 2010 1:41am Aug 25, 2010 1:41am
I drew the boxes, and have the compression shown in the trend lines exactly like the charts cloggie posted. It's broken down below my box, but not below the lower trend line. At what point do you fully engage? After it's broken the upper or lower trend line on the 15M & 30M or perhaps after the most recent swing high? I know this is an elementary question to the smart guys in the room, but always appreciate your insight.
What we obtain too cheap, we esteem too lightly.
  • #248,486
  • Aug 25, 2010 1:45am Aug 25, 2010 1:45am
Quoting cloggie
You are probably not far out, just love all the posters here calling shorts and longs when price has not broken either the TL to the upside or the low here. Great for a few scalps here and there for a few pips, not my style though.

I don’t think that it is a good time for range scalping (15 min before London open)…
  • #248,487
  • Aug 25, 2010 1:55am Aug 25, 2010 1:55am
Morning all... Tightening PA is a good omen but like many have said, propably going to wait for NY!

Anyone keen to explain the difference between summer and winter trading?
@pawpaw1000 on Twitter
  • #248,488
  • Aug 25, 2010 2:04am Aug 25, 2010 2:04am
Quoting pawpaw1000
Morning all... Tightening PA is a good omen but like many have said, propably going to wait for NY!

Anyone keen to explain the difference between summer and winter trading?
Most of the big guys go for vacation so the volume will be lighter.. August last and the week before last is usually very very light....
  • #248,489
  • Aug 25, 2010 2:05am Aug 25, 2010 2:05am
Quoting pawpaw1000
Morning all... Tightening PA is a good omen but like many have said, propably going to wait for NY!

Anyone keen to explain the difference between summer and winter trading?
To wait for durable goods orders data at 7:30am?

new home sales are projected to be worse than last month..I already know this from speaking to realtors in the south fla and new york areas a few days ago
  • #248,490
  • Aug 25, 2010 2:11am Aug 25, 2010 2:11am
Quoting fourxtrader
GUPPY MULTIPLE MOVING AVERAGES
These are two groups of exponential moving averages.

The short term group is a 3, 5, 8, 10, 12 and 15 day moving averages.
This is a proxy for the behaviour of short term traders and speculators in the market.

The long term group is made up of 30, 35, 40, 45, 50 and 60 day moving averages.
[font=Times New Roman]This is proxy for the long...

The difficulty I have always had with Guppy's concept
of reading the mood and behavior of two distinctly
independent groups of traders (short-term vs long-term)
on the same chart suggest then that the groups of
EMAs are acting independent of one another.

Of couse this is impossible. If the price moves up so
many pips, each moving average must move precisely
in accordance with its calculated relative period setting.

So I keep all the EMAs evenly spaced and in a wider
arrangement and view them collectively as a single
pattern, just as Guppy might view them when his
two groups (or all of the EMA's) compress together.

Dr. D.
  • #248,491
  • Aug 25, 2010 2:17am Aug 25, 2010 2:17am
http://www.thesun.co.uk/sol/homepage...-Bradford.html

this is the fake I think
@pawpaw1000 on Twitter
  • #248,492
  • Aug 25, 2010 2:22am Aug 25, 2010 2:22am
gbp bought at 1.5399

W formation seen
(2 W's are been formed)

regards
Nishant
  • #248,493
  • Aug 25, 2010 2:26am Aug 25, 2010 2:26am
cheers boys... Can't trade this morning...

Good luck to all... PS reckon we may bounce up
@pawpaw1000 on Twitter
  • #248,494
  • Aug 25, 2010 2:27am Aug 25, 2010 2:27am
Quoting pawpaw1000
http://www.thesun.co.uk/sol/homepage...-Bradford.html

this is the fake I think
think your right, seen it the other day. funny how they didnt keep the corpse.
  • #248,495
  • Aug 25, 2010 2:32am Aug 25, 2010 2:32am
Broke through my box and then the lower trend-line, then printed on the M15. Short at 5398. Hope I didn't jump the gun here, but everything looks good on the M30 & M15 for a down move. Resistance expected at 5380, and R1 -5350
What we obtain too cheap, we esteem too lightly.
  • #248,496
  • Aug 25, 2010 2:33am Aug 25, 2010 2:33am
Looks like she testing the lows...... will she be rejected?.....stay tuned !
  • #248,497
  • Aug 25, 2010 2:39am Aug 25, 2010 2:39am
Looks like support held. Long at 5398
  • #248,498
  • Aug 25, 2010 2:41am Aug 25, 2010 2:41am
Quoting joemiami
Looks like support held. Long at 5398
Was a good 25+ pip correlation trade................ maybe she will test the other side now... May even be able to get a few more......pips
  • #248,499
  • Aug 25, 2010 2:41am Aug 25, 2010 2:41am
Happy trigger!?
"Flip that coin!"
  • #248,500
  • Aug 25, 2010 2:43am Aug 25, 2010 2:43am
Quoting AdrianHNV
Was a good 25+ pip correlation trade................ maybe she will test the other side now... May even be able to get a few more......pips

Not bad for a 5m compression pattern. We're
getting some separation in the EMAs. What's next?

Dr. D.
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